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HGB-Konten

English translation: German Commercial Code account numbers (or accounts)

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16:37 May 22, 2003
German to English translations [PRO]
Bus/Financial / International Accounting Standards
German term or phrase: HGB-Konten
Die vorgesehene Methode (3-Kontonummernkreise: reine HGB-Konten, reine IAS-Konten, gemeinsame Konten) stellt eine i.d.P. übliche Vorgehensweise dar.
Gegen die Erfassung der Notes/des Anhangs (der AG) in SAP/FI wurden keine Einwände vorgebracht. Der IAS-Konzernabschluss wird mittels der Konsolidierungssoftware WinKONS erstellt.
International Accounting Standards
lorna
English translation:German Commercial Code account numbers (or accounts)
Explanation:
this is a lousy translation that gets the meaning! HGB = Handelsgesetzbuch = German Commercial Code which contains what you might call Generally Accepted German Accounting Principles (Ger-GAAP?), which are different to US-GAAP, UK-GAAP and IAS accounting 'rules' (IAS is in the process of being renamed IFRS - International Financial Reporting Standards, but not to worry).
Now, if you set up a balance sheet and income statement (P&L account) according to HGB rules, it won't conform to IFRS and vice-versa. So what you have to do is set up 3 kinds of accounts, ones which carry amoounts as calculated according to HGB, ones which carry IFRS-acceptable figures, and ones which are common to both (for cases where the two sets of rules happen to coincide, e.g. bank balances, petty cash and a few other things there's no arguing with). You can then tell SAP just to print the HGB and common accounts and you'll get HGB-compatible results, or just to print the IFRS and common accounts and you'll get a lovely balance sheet according to IAS!
HTH,
Rod
Selected response from:

Rod Darby
Ghana
Local time: 16:47
Grading comment
Many thanks for that!
4 KudoZ points were awarded for this answer

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Summary of answers provided
5accounts according German Commercial Code (HGB)
Michael Stolte
5German Commercial Code account numbers (or accounts)Rod Darby
4 -1Consolidated net income for the yearRadu Stefan


  

Answers


19 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
Consolidated net income for the year


Explanation:
HGB-accounts

I found this in a documentation

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Note added at 2003-05-22 17:05:24 (GMT)
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HGB- Handelsgesetzbuch
CC- Comercial Code

CC- accounts

--------------------------------------------------
Note added at 2003-05-22 17:16:28 (GMT)
--------------------------------------------------

HGB- Handelsgesetzbuch
CC- Comercial Code

CC- accounts

--------------------------------------------------
Note added at 2003-05-22 17:16:37 (GMT)
--------------------------------------------------

HGB- Handelsgesetzbuch
CC- Comercial Code

CC- accounts

--------------------------------------------------
Note added at 2003-05-22 17:17:34 (GMT)
--------------------------------------------------

I\'m sorry \"CC-accounts\" dosen\'t match the mentioned domain

The used form is: HGB-accounts


    Reference: http://reports.huginonline.com/819687/89610.pdf
    Reference: http://www.hawesko.com/investorrelations/financialhistory.pd...
Radu Stefan
Local time: 19:47
Native speaker of: Native in RomanianRomanian
PRO pts in pair: 253

Peer comments on this answer (and responses from the answerer)
disagree  Ralf Lemster: The answer doesn't refer to the question
1 hr
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38 mins   confidence: Answerer confidence 5/5
German Commercial Code account numbers (or accounts)


Explanation:
this is a lousy translation that gets the meaning! HGB = Handelsgesetzbuch = German Commercial Code which contains what you might call Generally Accepted German Accounting Principles (Ger-GAAP?), which are different to US-GAAP, UK-GAAP and IAS accounting 'rules' (IAS is in the process of being renamed IFRS - International Financial Reporting Standards, but not to worry).
Now, if you set up a balance sheet and income statement (P&L account) according to HGB rules, it won't conform to IFRS and vice-versa. So what you have to do is set up 3 kinds of accounts, ones which carry amoounts as calculated according to HGB, ones which carry IFRS-acceptable figures, and ones which are common to both (for cases where the two sets of rules happen to coincide, e.g. bank balances, petty cash and a few other things there's no arguing with). You can then tell SAP just to print the HGB and common accounts and you'll get HGB-compatible results, or just to print the IFRS and common accounts and you'll get a lovely balance sheet according to IAS!
HTH,
Rod



    Woywode: Accounting & Tax dico and experience
Rod Darby
Ghana
Local time: 16:47
Native speaker of: English
PRO pts in pair: 193
Grading comment
Many thanks for that!
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 5/5
accounts according German Commercial Code (HGB)


Explanation:
German companies are obliged to show their business processes easily to survey according §238 HGB. This means using a uniformed system of accounts (chart of accounts)
Internationally comparable business reports have to use IAS

SAP has a way of transforming these accounts


    Reference: http://www.fb3-fh-frankfurt.de/fb3/professoren/Friedemann/Do...
    Reference: http://www.sap-si.com/de/company/events/bankenforum/presenta...
Michael Stolte
Germany
Local time: 18:47
Native speaker of: German
PRO pts in pair: 42
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